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Barclays Replaces Branches With Banking Pods

Bank Barclays, based in the UK, opts for semi-permanent bank cells, abandoning traditional branches.

Barclays Replaces Branches With Banking Pods

Source: Pixabay.com

This decision of the financial institution is part of its measures to adapt to changes in the behavior of customers who visit traditional branches less often, and new trends in the banking sector. Semi-permanent cells will be installed in places of high concentration of people, including, for example, shopping malls and retail parks.

Barclays already has a network of alternative branch formats – Barclays Local – with 200 open facilities by the end of 2022. The Bank intends to open 70 more similar facilities in the first half of 2023.

As part of the program to change the format of presence in the public space, the financial organization interacts with municipal authorities and various communities. These efforts are aimed at installing bank cells in town halls and libraries.

The bank’s employees are working to inform the public about the activity of fraudsters in the financial sector. Barclays also organizes free seminars to teach the population digital skills when using banking services.

The change in the format of the presence as a program of activity of a financial organization was used in order to continue interacting with customers in those localities where it is not possible to maintain a traditional branch.

Barclays also runs modules as part of its local service. Semi-permanent structures represent the bank’s material presence in places of high concentration of people. The first such facility installed in St. Austell is in demand from customers.

Last year, Barclays closed 178 traditional branches. By the end of 2023, the bank plans to stop the activities of several more branches. After the implementation of the plan, the total number of Barclays branches closed since 2015 will amount to 1001 units.

As we have reported earlier, Barclays Raises Investments in Climate Tech Startups to £500 Million.